The name of Quinta do Noval first appeared in the land registries in 1715. The property was owned for more than a century by the Rebello Valente family, who were given it by the Marquês do Pombal, Portugal's all-powerful Primeminister. In the early XIXth Century, the estate passed by marriage to the Viscount Vilar D'Allen, who was renowned for hosting wild parties at Noval, transporting dancing girls from the Folies Bergeres.

By the 1880s the Douro had been ravaged by phyloxera and, like many estates, Quinta do Noval was put on the market. In 1894 it was bought by the distinguished Port shipper António José da Silva. Da Silva breathed new life into Quinta do Noval, replanting the vineyards and renovating buildings on the estate. His work was continued by his son-in-law, Luiz Vasconcelos Porto, who ran the company for nearly three decades. He was responsible for an extensive programme of innovation, transforming the old narrow terraces into the wide whitewashed ones seen today, which allowed for better use of space and more exposure to the sun. At the time, this was considered revolutionary thinking. He also built Noval's image in the UK, focusing his attention on Oxford, Cambridge and private clubs.

Noval made its reputation with the declaration of 1931 - arguably the most sensational Port of the XXth Century (and certainly the most expensive). Due to world recession and vast shipments of 27's, only three shippers declared 1931. To this day, Quinta do Noval remains the only Portuguese house to have made its name to any great extent in the British and US vintage Port market.
Throughout the century, other Port shippers have followed where Noval has led. For example, the first stencilled bottles were introduced by Noval in the 1920s; Noval pioneered the concept of Old Tawnies with an indication of age (10, 20 and over 40 years) and in 1958 was the first house to introduce a late-bottled vintage: 1954 Quinta do Noval LBV.

Vasconcelos Porto retired in 1963 and his grandsons, Fernando and Luiz van Zeller, took over the company. Another extensive programme of modernisation was embarked upon, including new vinification equipment, new vine plantations and bottling the vast majority of wines in Vila Nova de Gaia (in 1963 only some 15% of Noval Ports were bottled there; fifteen years later the figure was 85%).